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Narrow victory of ruling party candidate could damage the coalition as the other two parties are unhappy about New Unity holding the presidency as well as the premiership.
The election of Foreign Minister Edgars Rinkevics could precipitate the formation of a new coalition as the ruling New Unity's partners do not want it to hold the presidency as well as the premiership.
Grand coalitions between rivals are one symptom of the radically changed political landscape of the last decade.
Coalition failure to agree on single candidate for president, and ruling party's attempt to install its minister in the post could bring down whole government.
Inflation remains a drag on growth in Emerging Europe, along with sluggish growth in advanced economies and stricter financing conditions in Central Europe and the Baltic states.
President's decision could open the way for Foreign Minister Edgars Rinkevics to take over.
Fires in 45 countries burnt an area the size of Montenegro, with Ukraine, Spain and Romania the worst affected countries.
Russia is facing a mounting labour crisis as worker shortages grow, sending unemployment to record lows. Emigration is soaring and immigration tumbling.
There is no end in sight yet to the war in Ukraine, but governments and businesses in Central and Southeast Europe are already eyeing potential contracts when the war finally does cease and rebuilding on a massive scale can start.
Romania’s trade deficit narrowed by 5.3% y/y in January-February amid a combination of lower oil prices, lower imports of natural gas and subdued industrial activity.
The Kremlin has released a new foreign policy document that lays out its plans for its post-war relations. The main points are based on a “multipolar world” and that Russia doesn’t see itself as an enemy of the West.
Eurostat report shows Romania experienced four years of industrial decline after COVID-19 pandemic struck, following years of sluggish growth.
Romania’s GDP per capita soars to 77% of EU average, up from just 57% in 2012.
Alfa Bank is a doyen of the Russian banking sector, a well spring of trained talent in the 1990s that did “real” banking business at a time when most oligarchs’ banks were either “bank-like” institutions or glorified treasury operators.
Russia has managed to largely bypass Western sanctions on technology and semiconductor imports to supply itself with technology to keep its economy working and build sophisticated weapons.
Looking forward to the end of the war, whenever it happens, policymakers are already speculating on how many of the refugees and migrants are likely to stay and how many will return.
Looking at pledges of military aid to Ukraine between January 24, 2022 and January 15, 2023, the US government has committed to providing more financial assistance for military purposes than any other country.
Russia’s invasion of Ukraine and related sanctions have distorted trade routes across the Eurasian continent.
The EBRD lowered its forecasts for more than half its 36 countries of operation, anticipating average growth of just 2.1% this year.